Guideline Value for SATHIYASEELI NAGAR

Sathiyaseeli Nagar guideline value

The current guideline value of Sathiyaseeli Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class IV Type - II.

How the guideline value of Sathiyaseeli Nagar has changed

The guideline value for Sathiyaseeli Nagar has undergone several revisions over the years. Starting from 2002, the guideline value was Rs 58 per sq.ft. It increased to Rs 100 per sq.ft in 2003, followed by a significant rise to Rs 400 per sq.ft in 2007. In 2012, the value was Rs 1,200 per sq.ft, but it dropped to Rs 804 per sq.ft in 2017. The 2023 revision set the value at Rs 1,200 per sq.ft, and the latest revision for 2024 has increased it to Rs 1,320 per sq.ft.

Between the revisions, notable changes include a 72% increase from 2002 to 2003, a 300% rise from 2003 to 2007, and a 200% increase from 2007 to 2012. However, there was a 33% decrease from 2012 to 2017, followed by a 49% increase from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% rise in the guideline value.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values for 2024 ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing Sathiyaseeli Nagar's 2024 figure below that median.

• Sathyamoorthy Colony: Rs 1,110 per sq.ft (2024)
• Sathiya Moorthy Nagar: Rs 1,320 per sq.ft (2024)
• Sarvamangala Nagar: Rs 1,320 per sq.ft (2024)
• Santhi Jeevi Nagar Extn.: Rs 1,320 per sq.ft (2024)
• Selvam Nagar: Rs 2,750 per sq.ft (2024)
• Selvam Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiyaseeli Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sathiyaseeli Nagar?

The Sub Registrar Office that covers Sathiyaseeli Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Pallikaranai

The guideline value is a crucial factor in the registration process when buying or selling property in Pallikaranai. It serves as the baseline for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property transaction occurs, the guideline value helps to determine the financial obligations of the buyer. It is essential for buyers to be aware of the guideline value to accurately assess the total costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Sathiyaseeli Nagar?

The current guideline value of Sathiyaseeli Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 58 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 2176%.

What is the land classification of Sathiyaseeli Nagar?

Sathiyaseeli Nagar is classified as Residential Class IV Type - II.

Where can I find the Sub Registrar Office for Sathiyaseeli Nagar?

The Sub Registrar Office for Sathiyaseeli Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Sathiyaseeli Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 13,20,000 would incur a stamp duty of Rs 92,400 at a rate of 7%.